Posts in this series
Editorial Note: after some conversations at home, I’m going to spend my time in these posts talking about what it is we’re doing, rather than focusing on dollar amounts. I’ll keep the starting amount of debt in the first section simply because I’ve already mentioned it enough that there’s no point in obfuscating the issue.
So. Welcome to the Total Money Makeover! Again. We’re chugging along now, and have decelerated into a “grind it out” mode. My contracting job just turned into a full-time gig (and a cut in pay), but with it comes reduced health care costs…so it might be a wash. I’m currently brainstorming other ideas for bringing in some much-needed cash to get this whole endeavor back into the fast lane. Hell, I’d settle for medium-paced lane — which is more realistic, given the various medical expenses we’ve incurred, along with Sam/Eddy daycare, and Eddy’s impending pre-school. Plus the holidays. Jesus. Will it never end?
Starting in the hole: $74,000. (Includes the fancy new minivan.)
Current debt load: I don’t even fucking know anymore. Seriously. I haven’t the foggiest idea of where we’re at. I can tell you that we’re better off than we were four months ago.
Step 2: Debt Snowball
When budgets go to shit, this is the place that gets hit hardest. We’re getting back on track to finish crushing the credit card debt, but we’re not going to be at the same pace we were at (originally February 2014 completion). This is largely due to new medical bills, prescriptions, and so on. We’ll get there.
Amazon— done, August 2014 Macy’s— done, August 2014 Chase— done, August 2014
- Citi — soon?
- Wells Fargo — projected complete TBD
- Bank of America — projected complete TBD
Citi card isn’t paid off yet, as planned. We’re rolling the Wells Fargo and Bank of America cards into a new zero-interest card that we got specifically for that purpose, and we’ll be hammering that hard in the coming months. After that, the student loans, and then the Honda. After that: Step 3.
5/10. I can’t even right now. Started with the emotional high of getting three cards paid off quickly, and now we’re grinding. It’s tough. I know, consciously, we’re doing okay at this, and that we’re making measurable progress every month, but it’s still tough. Chin up. Eyes forward. Let the ass-kicking continue.